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zoo2i4oio Mortgage Insumrs evaluate (heir total risk on all such insurance in force from dare to time, and only emer into agreements with other' parties' that share Or ir al the risk, or rcducc losses. I hose agreements are on terms and conditions that are satisfactory m the cart ,nie insurer and the other party (or parties) to these agreements. 'These agreements may require the mortgage insrver to make paymeme using anp source of funds that the mortgage III may have available (which may inalade funds obtained from Mortgage Inxrrance premiums)_ As a resu IT oI these r2reemen¢_ Lcndcr_ any purchaser Tfthc note. another insurer, wry reinsuIel. wry other crtily. or alliliete of all) of tilt forgoin, may reeene (d,mc-ly or rn LlettlyI an,oums That dente flan, To I n :hr be charaetenaed is) a P.,I,.n of For I'a,',, , paynens bill Mougege Insurance, III exaharTge Or 'I"T rg or modify lrrg the mortgage lanai er's risk, Or reduclag leas.. Ifsuch agrcemenpmvide d thatan athlTat"ALendatakes a share o fth, insurer s risk ,exchange for a Share oflhe premiums paid to tile,nsurcr. the urrangcnrcnl is often tanned "captive reinsurance." holder, (a) Any such agreements will not affect the amounts that Borrmver has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreenrenls will not increase the anmunt Borrower will uric for Mortgage Insurance, and they will not entitle But to any relLnd. (b) Any such agreements will not at act the rights Rorrower has — it any —with respect to (lie Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation (it the Mortgage Insurance, to have the Mortgage Insurance terminated ru tutnalically, and /m' to receive a refund o11wry Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. I I. Assignment of Miscellaneous P,oreeds; Forfeiture. All Miscellaneous Proceeds ire hereby assigned to and Shall be paid w I_rad,, Ifthe Property is damaged. such Miscellaneous Proceeds shall be applied to restoration or repair at the Property, it the resoration or repair is c.onon,¢;dl, fees,hle and lender's security is not lessened. During such repair and restoration period, Lcndcr shall Ins, the right to hold such Mismllan..as Pmcaeds Loll Lender has had an opporwniq to inspect such Property to ensure the work has been completed To I eider's Satisfaction, provided that such inspection shall he undertaken promplly. Lender TILT, for the repairs and restomtion in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Appl,cahle I aw requirce interest to be paid nn such Miscellaneous PLO...da, Lcndcr Shall not be mgaircd to pay Borowei any 'interest or eam,ngs on such Miscellaneous Proceeds. Ifthe restomtion or repair a notceonormcally lea ible a I rde... security would be lessened, the MTSwl lanenns Proceeds shall he applied In the sums stern sell by this Security h6trullrent. whether of Out than due, with the excess, ifany, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the or provided for in Section 2. In the ncnt of a Total Inking, dcslnwt loo, a loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Sear my Instrument, I, tether or nor then due, with the excess_ hang paid to Rorr'owet In the c,col of a par(iil taking, deal t -t' rn, or loss In tutu, Tell, Property in which the fair madmt value Of Ile Property immediately before the partial taking deeammlon, a loss is vn lie i.s equal to or greater Than the:unnuntnfthebums secured by this Sternly allUnientlairiediaell before the pa vial takin t cle, rat ion, or loss in value. unless Borrorvcr and Lender' otherwise agree in writing, The sums sealed by this Scoria, losnuTICTIT shall be reduced by the amount of .Miseellancous Proceed, multiplied by ere following tiaction. (a) tha total amountof the sumssearred immediately before the partial taking, destruction - or loss in value d,, i k,l by t b) the lair market value ul the Property ,mm,f lack before the partial taking, destmc non, or loss in value. Any balance shall be paid to Borrower. In the event of a partial utkim�, deso'ucrion, a loss in value ofthe Property in which the hair market value Of thr Property corcaliatcly before (]it partial taking, de,vamon, or loss in value is less than the amount of the sums secured immediatelybefare thepartial taking,destn"TOn,.1 lossm talie,unless borrowerand bender' otherwiseagree IT, wrou Ole Miscellaneous Procc'Lds shall be applied to (he soon secured by this Se of lty LIST amenl s l etheror not the sums are then due. II the Property is ibardmwd by Be ,el"IT, or if, alter Lode, by Lender to Ber,a,ta that th, Opposing Pare- (as defined in the next sentence) offers to nick, ..n ntvwd m semle n claim for damages, Borrower Pails to respond to I ender ,,thin 10 days after ncio dal, the r,.act is ais.rr- Lender is nuth.neld to collect and apply the Miscellaneous Proceeds either to restoration or repair' of the Properly or to The sums sealed by This Secants Instrument, whether or not Then due_ "Opposing Party' means the tl ur d party that owes 6orrowanN b,,Slloncous Proceeds a the party against whom Borrower has aright of action to regard to Miacellaneous Proceeds_ Borrower shall be in default ifany loran or proceeding, whether civil or crintinnl, is begun that, in Lender's judgment, could resu Il in forfeiture oflhe Property of other Train r,al impairment of Lender's interest in the Property or rights wider fill Security Instrument Borrower can cure such ud'aultand- if acceleration has occurred- reinstate as provided in Section 19, by CarS,ng the action or proceeding m be dismissed with ;r riding Thar_ in Lcndcr'sjudgmcnt,ptecludes Tel, or mrc of t1, , Profit crty or o (IT ar rnnkrial err rpui naent of Leader s interest In the Property or rights undertlris Security Inslntmen(. lire proceeds ofanymvard m' claim for damages that are amihulable Ta the impairmentnf I znder's interest in the Property are hereby assigned end Shull be paid Lauder. All Miscellaneota Pto.eed s shot;ve not applied m restoration nr repair' of the I'mperry shall he applied in The order provided for in Section 2. 12, Borrowerr>bt Released; Forbearance II Lender Not er Waiver. Lxtcnsion of the time tor' ptsa or modification O famorizmion ul the sums,,curd by rhIl SceariS Iustrunrcnl grwrled by Lcndcr to Borrorvcr Tr any Smecs'sor in Interest of Borrower shall not opmate to release the h lhrhty of Borrower OI any Successors ,n Interest of par Ia, eI Lender shall not be ,gwrcd IT emnnrame PIe,CCd,ngs against wry Sueee'Ssor to Interest Of BUT roweror to refuse to extend (role for papneat or othenc,,0 modTtV anonRatron ofthe corns secured by This Searnk Instrument by reason efforts c onand made by The Original per ow.t Ornav SaccessoaS in Inlcrest of Borrower Any forbears nceby Lender in exetuswg any nadir or remedy ine lading_ without 11 anti", Ixnrl r. ..... Prince of paymems tom Third persons, crimes or Successoato Inlcrest ul BanoucrTo in amounts less than the amou 'It th,n due shall nor bee ttmver ..for prcdude the exemTSe ad er) right or remedy_ 13. Joint and Several Liability; Cu- signers; Successors and Assigns Bound. BO1TOwereovrnanLSandaIi that Borrower's obligations and liability shall bcju,m and several. However, any Bon'ower who co -signs this Security Instrument but does not execute tlhe Now 1 a "co- signer'): (u) is co-signing this Security Insuumcnt only m mnrtpagc grant and currvcy the cu- signets interest n the Property under the terms ofthis Severity Instrument; (b) is notpenonallyobhguted to pay the cants secured by this Seamty lido unenT; and (rJ agrees that cederandairy Other BOrrmver can agree Toextend. loeifha foihein or make alp ac,omnrodations tdth regard m th, terms ot'this Security Insucarentoi tha Vol, without then. sisrer''S consent. Subject to Lire PO., anon, ofS,rca IS hm Successor in Interest or Bar I owcnvho assumes Bonorvci'a obligations under this racially Instrument ,writing, and is appmvaI by I nder, shall obtain all of Borl s rights ardbcneBLs under this Security Instrument. Borrorvcr shall not be released from Borrower's obligations and liability under this Security Instrument an less Lcndcr agrees to such release in unnng. "I he covenants and agrrccmcrt,s ofthis Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Leader 14. Loan Charges. lender may charge Borrorvcr tees for services performed in connection with fiarrowea e defludL for the purpose of protecting Lender's interest in the Property and rights circler this Seen ity Instrument, including, but not limited to, attorneys' fees, property inspection and valuation tees_ In regard to any other fees, The absence ofexpress authority in this Seenrits lob rument to charge a specific fee to Borrower shall not be tonsured as a prohibition on the elwrgtng of sach fee Lender meynoT C harge tees that are e xp, ... 1pproh, hired by this security Instrument or by Applicable Law IT Tile I ono is sublect to a law which tTG maximum loan charges, and that law is finally interpreted so that Inc interest or other loan charges coll,ced of to be collected in connection with the Loin exceed the pennitwd limns. than. (al r vsuch loan 1",11 shall be r educed by the amount at.eessw y tT rcducc the charge to the permitld l Tmi,and(b)any sums bLBReeKA -1 1, 1 an. is i NI SOFT dri,%a,I N I F0101 I N 5'I W NI P 6't Ficir tall 1 /01 rPr4 of.'.Metal .2iJ Cr II uh/ ale /: